The containership orderbook has reached a record 13 million TEU, according to consultancy Linerlytica, which warns of impending overcapacity. Ships currently on order exceed the combined active fleets of Maersk, CMA CGM, and COSCO. The orderbook-to-fleet ratio stands at 38.3%, a level not seen since the global financial crisis nearly two decades ago.

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Total new ship orders in the first four months of 2026 have already surpassed 1.9 million TEU, and Linerlytica suggests they are on pace to exceed the full-year 2025 record of 5.1 million TEU in new orders placed within a single year. The majority of new deliveries are scheduled for 2028, where firm orders have already reached 5.2 million TEU.

In its latest weekly report, Linerlytica described carriers as locked in an incessant fight for market share, calling the ongoing ordering spree unrestrained. The consultancy predicted that overcapacity will soon catch up with the market, noting that more than 5 million TEU are scheduled for delivery in 2028 alone.

The Drewry World Container Index fell for the third consecutive week last Thursday, declining 1% to $2,216 per FEU, driven by softer rates on Asia-Europe, transpacific, and transatlantic routes. Drewry warned that despite elevated fuel costs and ongoing geopolitical risks, rates remain under sustained downward pressure due to excess capacity and low demand.

The latest decline comes as broader demand indicators soften. US consumer confidence fell to its lowest level on record in April 2026, according to the University of Michigan, signaling weaker import demand ahead.

Source: IndexBox Market Intelligence Platform